The 26th of Jan 2010 refers to the date which CLN will be offering each shareholder a chance to purchase 7 shares at 7c each which is why the price is going through the roof. Check out Colonial's website for all the info. There are also heaps of other threads on the share offer and what it may do to the share price.
Don't forget to also checkout WTN as that is how I stumbled accross CLN last week.
Good luck!
CLN Price at posting:
10.1¢ Sentiment: Buy Disclosure: Held